Uber And Yandex To Combine Ride-Sharing Businesses

Uber And Yandex To Combine Ride-Sharing Businesses

The new company will serve 127 cities

Uber and Yandex have signed a deal to combine their ride-sharing businesses. In a statement, the two companies confirmed that the new, as yet unnamed, company will soon be operating in 127 cities in Russia, Armenia, Azerbaijan, Belarus, Georgia and Kazakhstan. A Russian analyst, Sergey Libin, said that by making the deal, Yandex “eliminates an aggressive competitor which, in the long run, will lead to improved monetisation and profitability”. Uber will also be contributing its UberEats service to the new venture, with Yandex saying that ride-sharing and food delivery “offers numerous opportunities in logistics that we will explore”. Currently, Yandex.Taxi represents around 50% of Yandex’s equity value.